The singer/actress, who was married to Noa between 1997 and 1998, filed a USD 10 million (GBP 6.25 million) lawsuit against her ex-husband in November 2009, in a bid to prevent him from releasing candid home video footage from their time together.
Noa and his production partner Ed Meyer were blocked from distributing both the film and "confidential information" about Lopez, after a judge issued an injunction - and they lost a legal bid to overturn the ruling.
Noa admits the legal wrangling has crippled his finances, and he's preparing to file for bankruptcy.
He tells New York Post gossip column Page Six, "The lawsuit put me through so much pain and frustration. I'm losing everything. I can't go to work because anytime I go to a casting, people are afraid to hire me because of the judgment on my head. (They are) sceptical (because) of what I'm going through."
And Lopez's attorneys have already moved to ensure Noa doesn't sell the footage to help pay his debts.
Lopez's lawyer, John Lavely, says, "Both the preliminary injunction and the permanent injunction are still in full force and effect. Offering for sale or selling the videotape would constitute a wilful violation."